http://www.satyamevjayate.in/issue01/#
truly inspiring show, now is the time for change in India.
Sentiment is moving negative…..
http://profit.ndtv.com/News/Article/why-surging-gold-prices-hurt-india-most-303443
An interesting perspective, highlighting a weakening currency in India, almost at a 10 year low against the pound or dollar. Good time to go on holiday and buy Indian assets with International currency? or is it? Or is the inflationary economy going to get worse and will the currency situation worsen further?
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Indian Emotion – Hope is all around us.
As I sit here in Delhi, for the 3rd time in 12 months, I reflect on the Indian phenomenon. We all know the corruption and the many problems in India, and probably also know that India is growing at an unprecedented rate and will be either the first or second economy of the world in the next few years, but my reflection stems from my emotions of visiting India.
I worked out the other day i must have been to India (and Delhi) at least 15 times in my life, and apart from the economic change, I really feel the emotions have changed too, or maybe it has taken me 15 visits to figure it out!
In the space of a few hours, India is really one of those places that one feels virtually every emotion in such a short space of time.
In the air is a real feeling of excitement as the young population of India wakes up every morning (did you know over 70% of the population is under 30!), they are hungry and excited and ready and able to take on the world.
Despite the excitement, apathy is so evident too. There are rules but does anyone really follow them? Of course not, this is India. Rules have been made, but no doubt none are followed. For instance every shopping mall have security scanners installed, with many people working there, but do they conduct a proper bag and body search – of course not, so my question why do they bother?
It is all for show, and not about results, and that in many ways is India. Being seen to conform is so important in Indian society, at every level, yet is this the right thing for the average person or family – probably not.
Despair and frustration, another set of emotions is evident right here. One must have a cool head, else the Indian system has been designed to break you, so what one may feel is expected in the west, bureaucracy really is taken to levels one has never seen in the west. The best way to deal with these emotions? Laughter, no point in crying else the system has won!
Of course Greed is the other emotion one experiences, in yourself and in others. India is awash with money and it can be seen the richer are no doubt getting even richer, however, even the man on the lowest hanging rung of the ladder, is working his way up the ladder, to new heights. Does this stem from greed? Probably, but it also stems from hope, a hope that many of the people have never experienced before.
Hope is quite clearly in the air, despite the difficulties for the average Indian living in India, the young in particular exhibit hope, and also have the staying power and intellect to move the country to the forefront of the world powers.
The emotions of Indian paint a wonderfully colourful picture every visit i make, and in such short spaces of time, i never really experience such wonderful personal experiences anywhere else.
Is it exhausting? Actually knackering, but would I change it?
Never.
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Tagged exciting India, Exhausting India, Hopeful India, India emotion
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Budget Update for Dentists – Video March 2012
BUDGET 2012
The Budget contains a number of changes to taxation for individuals and businesses. Against a background of uncertainty in Europe and worldwide, the budget promised to support work and aspiration, and to back business.
THE ECONOMY
The 2012 Budget contained revised growth predictions with the GDP expected to grow by 0.8% in 2012, up from 0.7%. The borrowing for this year is set to fall by £1 billion from the autumn forecast to £126 billion.
Despite this, the Office for Budget Responsibility remains concerned about the position in Europe and the world growth forecast has been revised downwards.
INCOME TAX
From 6 April 2013, the 50p top rate of tax will be cut to 45p.
The personal income tax allowance will be raised to £9,205 from 6 April 2013. At the same time the basic rate limit will be reduced to £32,245. The increase will provide a gain in real terms in 2013/14 of £170 to most basic rate taxpayers and £42.50 to higher rate taxpayers with incomes under £100,000.
A new cap on tax reliefs has been set at 25% of total income for anyone claiming more than £50,000 of tax reliefs (including charitable relief) in a year, but there has been no significant change to pensions relief despite predictions in this regard.
The introduction of a statutory residence test has been postponed by one year to 6 April 2013 pending further public consultation.
CHILD BENEFIT
Child benefit will continue to be available in full where no one in a household has an income of more than £50,000. It will be lost in full if one member of the household as an income of over £60,000. Where someone in a household has an income of between £50,000 and £60,000 the benefit will be reduced by 1% for every £100 earned over £50,000.
HOUSING
Stamp Duty Land Tax (SDLT) is increased to 7% for homes purchased for over £2 million. Transitional provisions will apply for contracts entered into before 22 March 2011 to preserve the existing rate.
If residential properties worth over £2 million are purchased through offshore companies for the purpose of avoiding SDLT, duty of 15% will be payable. This change will take effect immediately and retroactive legislation will be introduced in this year’s Finance Bill.
INHERITANCE TAX (IHT)
Anti-avoidance measures targeting the use byUK domiciled persons of offshore trusts set up by non-UK domiciled persons to reduce IHT will be introduced in the Finance Bill. This will have the effect of treating those trust assets as if they were situated in theUK for IHT purposes.The Government intends by the time of next year’s Budget to find ways of simplifying the IHT charge on trusts and easing the IHT charge on gifts to non-UK domiciled spouses and civil partners.
CORPORATION TAX
Corporation Tax cut is to be cut from 26% to 24% from next month, falling to 22% by 2014. However, the Bank levy will be increased from January 2013 “to ensure that Corporation Tax cuts do not benefit the banks”.
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Aggressive Budget 2012 ????
A very aggressive budget revealed just now. Key points that will effect most dentists are:
- 50% tax rate will drop to 45% in 2013, so good for higher earners
- The personal allowance is rising to £9,205 will increase from 2013
- Child benefit will be phased out for anyone earning over £50k, and going to zero if you earn over £60k
- A big effort to ensure stamp duty on £2m homes is paid – large tax rates will apply
- Corporation tax rate (main companies) this will be brought down to 20% in the next few years, again trying to make the UK a much more competitive country to invest in!
So what does it mean for you, well lots of changes going on, for the higher earners it appears on the face of it that people will be better off. Not sure how this effects the middle earners, I think it may not be so well received.
Watch this space for some proper calculations our full opinion
Happy Budget Day!
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Dental Equipment – Buy this Weekend
Just a quickie – a great opportunity for anyone looking for some great dental equipment, from some great guys, and to ensure you make the most of your capital allowances (i.e. save tax this year)
This weekend at hague dental in tooting, london -
http://www.haguedental.com/
Happy buying
Arun
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India trips 2011 and 2012!!
India in April 2011 – delhi, madurai, rameshwaram, kumarokom, kochi, bangalore, delhi – 3 weeks of experience and amazing eye opening events for my 2 kids.
India 2012- a planned trip to Mumbai, Coorg and then Goa…..i can’t wait…..how exciting!
Planned hotels to visit:
Coorg – the coffee growing area of Karnataka – Orange County Hotel – http://www.orangecounty.in/coorg/home.php
Goa – http://www.cocoshambhala.com/ – coco shambala villas
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Tagged Goa, India Coorg, mumbai, travelling with young children to india
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